Core Insights - Baiyang Pharmaceutical reported a revenue of 5.627 billion for the first three quarters of 2025, which increases to 6.505 billion when adjusted for the two-invoice system [1] - The net profit attributable to shareholders for the same period is 476 million, with a third-quarter revenue of 1.876 billion and a net profit of 313 million, reflecting a year-on-year growth of 31.43% [1] - The basic earnings per share increased by 33.33% year-on-year, indicating strong profit growth [1] Revenue and Profit Performance - For the first three quarters of 2025, Baiyang Pharmaceutical's revenue, when adjusted for the two-invoice system, shows a brand revenue proportion increase to 76.54% [1] - The third quarter alone saw a revenue of 1.876 billion and a net profit of 313 million, marking significant growth compared to previous periods [1] Strategic Partnerships - In September 2025, the company signed a strategic cooperation agreement with Tianjin Jikun Pharmaceutical Technology Co., Ltd. to leverage mutual resource advantages [1] - This collaboration aims to enhance research and development, manufacturing, commercialization, and capital operations in the fields of organ fibrosis and related inflammatory immune diseases [1] - The partnership is expected to effectively integrate resources and expand the company's innovative drug portfolio in the organ fibrosis sector [1]
百洋医药：第三季度归母净利增长31.43%至3.13亿元，进一步加深创新药布局